XRP/USD Medium-term Trend: Bearish
Resistance Levels : $0.52 , $0.53, $ 0.54
Support Levels: $0.50, $0.49, $0.48
Last week, price of Ripple was in a bearish trend. The asset traded from the high of $0.58 and fell to the low of $0.52. The asset is still falling as per the price action. Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal. In addition, the 12-day EMA and 26-day EMA are above the price of the asset indicating that the bearish trend is ongoing.
Nevertheless, the relative strength index period 14 is level 34 indicates that the market is oversold suggesting bulls to take control of the market. In the same vein, price has touched the lower band of the Bollinger bands on the first and second low. This is a buy signal for the Ripple asset. Traders are to look for buy setups at the support levels since the market is oversold.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, price of Ripple is in a downtrend. In the lower time frame, the MACD line and signal are still below the zero line indicating a sell signal. Also, the 12-day EMA and 26-day EMA are above the price of the asset indicating that the bearish trend is ongoing.
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